HSBC UK-backed acquisition for accountancy firm | South East Deals News
Summary
An international accountancy and consultancy firm has expanded with an acquisiton after securing the support of HSBC UK.Affinity Associates has utilised a seven-figure finance package to buy Flemmings, a multi-disciplinary business advisory group based in Croydon.The deal sees 28 Flemmings employees become part of Affinity Associates, taking the size of the workforce to 100 in the UK.In addition, its Croydon site will join Affinity Associates network of global offices, while Affinity also switched its primary banking to HSBC UK as part of a deal to fund future acquisitions following a period of organic growth.Dharmesh Amin, director at Affinity Associates, said "We are delighted to welcome Flemmings to the Affinity Associates family. Its shared values and collaborative approach to business make the two organisations an ideal fit - and we are looking forward to seeing what can be achieved together. "We also want to thank HSBC UK for its support in making this acquisition happen. We are excited about the future as we start making our growth plans a reality. "David Cox, relationship manager at HSBC UK, added: "With the current economic situation, it has never been more important for businesses to keep track of their finances.